Sales Transactions
1. CBRE arranged the sale of Broadstone Seventh Street, a 258-unit multifamily community in north central Phoenix, for $81.4M. CBRE’s Asher Gunter, Matt Pesch and Austin Groen represented seller Alliance Residential Company. Goldman Sachs & Company was the buyer. ORB Architecture served as the design firm.
2. The Phoenix office of JLL completed the sale of Building One at West Summit at Surprise, a 454KSF industrial facility located at 13401 W. Sweetwater Ave. in Surprise, for $63.9M. Developed by Mohr Capital within Summit Business Park along the BNSF Railroad, the rail-capable building was purchased by US Merchants. JLL’s Anthony Lydon, John Lydon and Kelly Royle represented the seller, Mohr Capital. US Merchants was represented by CBRE’s Joey Sugar and John Grady.
3. The Walden Group recently purchased three separate golf courses from Thompson Golf Group for a total of $57M. Thompson Golf Management will maintain operations for the assets. The three golf courses were: Longbow Golf Club, which sold for $23.5M; Power Ranch Golf Club, which sold for $17.1M, and Dove Valley Ranch Golf Club, which sold for $16.39M.
4. Redeemer Bible Church recently purchased a former Fry’s grocery store totaling 61.8KSF near Val Vista Drive and Baseline Road for $10.15M. Lakeview Village Corporation sold the former grocery store. ProSmart Realty’s Phyllis Benson and George Bliss represented the buyer.
5. Arto 3430 LLC purchased the 123.4KSF former Sam Levitz building at 3430 E. 36th St. in Tucson from 36th & Palo Verde Investors, LLC for $8.64M. The building will be occupied by Arto Brick, a manufacturer of handmade ceramic, porcelain and concrete tiles, paver and brick veneers. Stephen D. Cohen and Paul Hooker with Cushman & Wakefield | PICOR represented the seller. Rick Borane with Volk Company represented the buyer.
6. CRE8 Advisors represented the seller in the sale of a 16.13-acre parcel near Meridian Road and Germann Road in Queen Creek for $6.97M. BC Invest was the buyer. The seller was Superstition View Ranchettes, LLC.
7. Stos Partners recently acquired a 40KSF warehouse at 525 S. McClintock Dr. in Tempe for $5.75M. The asset was purchased from a private owner. The buyer and seller were both represented by Jack Tate and Payton Kruidenier of Ross Brown Partners.
8. The sale of 9801 N. 19th Ave. in Phoenix was recently recorded. The property consisted of multiple structures totaling 7.1KSF on 2.67 acres in Deer Valley. Max Schumacher, Patrick Sheehan and Jack Hansen of Rein & Grossoehme Commercial Real Estate represented both the buyer and seller. The industrial outdoor storage investment sold for $4.75M.
9. CRE8 Advisors, led by partners Rommie Mojahed and Kevin Smith, represented both parties in the sale of a 310-acre parcel at the NWC of Woods Road and US 85 in Buckeye for just less than $2.8M. LW Land Group was the seller. The buyer was not disclosed.
10. The Dollar General at 5240 E. Hwy. 90 in Sierra Vista recently changed hands from Sequoia Capital Realty, LLC to Tiny Kat Investments LLC for $2.48M. Sequoia, the seller, was represented by Marcus & Millichap’s Jesse Limon, while the buyer, Tiny Kat, was represented by Cushman & Wakefield | PICOR’s Dave Hammack.
11. CBRE facilitated the sale of the 18KSF Rose Garden Medical Campus, a three-building medical outpatient campus located at 2915–2925 W. Rose Garden Lane and 20950 N. 29th Ave. in Phoenix, to a private investor. CBRE U.S. Healthcare Capital Markets brokers Chris Bodnar, Brannan Knott, Zack Holderman, Anthony Sardo, Cole Reethof and Jesse Greshin, in partnership with CBRE Phoenix Healthcare Leasing’s Phil Wurth, acted as exclusive advisors to the seller. The 100% leased, state-of-the-art oncology campus is anchored by City of Hope.
Lease Transactions
12. Lincoln Property Company executed two full-building leases totaling more than 1.1MSF at Luke Field, bringing the 2.4MSF, three-building Class A logistics campus to 100% occupancy. Fluidstack leased the 695.8KSF Building A and the 454.8KSF Building B at 13543 A and 13543 B Northern Ave. in Glendale. Luke Field was developed by Lincoln Property Company and Goldman Sachs. The tenant was represented by Bob Mohr and Elizabeth Loving of Mohr Partners Inc.
13. Fullscript leased 171.9KSF of industrial space at Chandler Airpark 202 in Chandler. The health-tech company will relocate employees from its Phoenix location to the newly constructed Class A facility in the Airpark employment area. JLL represented Fullscript. Cushman & Wakefield represented Chandler Airpark 202.
14. Item America LLC, a subsidiary of Item Industrietechnik GmbH, signed a 62.7KSF industrial lease at Elliot 96, a two-building industrial facility developed by Kitchell in southeast Mesa. CBRE represented the lease arrangement. The property also includes Retroship, a third-party logistics tenant serving e-commerce growth brands.
15. Beam Global leased two industrial buildings, one at 653 E. 20th St. and the other at 655 E. 20th St., in Yuma. The two buildings combine for 55KSF. The Ron and Jacqueline Reynolds Family Trust is the landlord. The tenant was represented by Brent Bohlken, while the landlord was represented by A.T. Pancrazi Real Estate Services’ Chase Pancrazi.
16. Burlington Stores Inc. is leasing a 22KSF space at 1919 E. Camelback Road in Phoenix. The retail space was previously occupied by Off Broadway Show Warehouse. The landlord was not disclosed.
17. Turf Designs leased 10.46KSF of industrial space at Butterfield Tech Center II, 4650 S. Coach Dr., Suite 160 in Tucson from Pegasus Tucson Owner LLC. Paul Hooker and Andrew Keim with Cushman & Wakefield | PICOR represented the landlord.